A Comparative Market Analysis (CMA) in real estate is a report that estimates the value of a property by comparing it to similar properties that have recently sold or are currently listed for sale in the same area. The CMA is typically prepared by a licensed real estate agent or broker and is used to help sellers set a listing price for their property and to help buyers make informed offers.

A CMA typically includes the following information:

• A list of comparable properties (comps) that have recently sold or are currently listed for sale in the same area
• The sale prices and other relevant details of the comps, such as square footage, number of bedrooms and bathrooms, and lot size
• An analysis of the similarities and differences between the subject property and the comps
• An estimated value of the subject property based on the analysis of the comps

The CMA is a useful tool for real estate agents and brokers because it helps them to:

• Determine a fair and competitive listing price for a property
• Identify potential buyers and their price ranges
• Negotiate the best possible price for a buyer
• Provide valuable information to clients about the local real estate market

Here are some key points to consider when it comes to CMAs:

• A CMA is not an appraisal, which is a more formal and detailed evaluation of a property’s value.
• A CMA is typically prepared by a real estate agent or broker, while an appraisal is typically prepared by a licensed appraiser.
• A CMA is based on recent sales data and market trends, while an appraisal is based on a physical inspection of the property and a review of its condition.
• A CMA is usually less expensive than an appraisal, but it may not be as detailed or comprehensive.